How to Choose the Right Business for You?? | Business Bridge Canada

January 25, 2021by admin18


Starting a business will be hard. It can be extremely rewarding, but first it will be hard.

The only way you will be able to push through and make your new business successful through all the hard parts and long hours, is if you are passionate about what you are doing. Follow your dreams and use your knowledge. Your passion and knowledge are the best places to start in choosing your new business.

You must know your business:

Has anyone ever told you that something is “a sure thing”? Chances are, as you consider your entrepreneurial options, someone will try to tell you that opening a particular business is “a sure thing”—do not listen. Nothing is sure, and you are much better off making choices about your business (and by extension, your income) that are based on your own knowledge and interests—not someone else’s.

In the end, customers will only part with their hard-earned money in your business if you can convince them that they’re going to get their money’s worth by buying from you, and in order to do that, you’ll need to know everything there is to know about what you’re selling.

Follow your resume:

If you already have years of experience in a particular field, starting a business in that field gives you many advantages. You can make good use of your skills and previous training, your network of contacts, and your knowledge of the industry. You may even already know your first customers. And if you need funding to start your new business, it can be much easier to find when your resume backs up your new venture: banks and investors see a proven track record, and a safer bet.

For instance, if you are an experienced executive chef, and have managed a restaurant for years, starting your own restaurant will be easier for you. You will know suppliers, and vendors. You will know how to build menus and order food. You will also know what people like and do not like when it comes to food. And when you go to the bank, and the loan officer sees your resume, he/she will know you have the experience to back up what is traditionally a very risky business.

If something from your experience immediately jumps out at you as something, you’re interested in turning into a business, talk to people you’ve worked with about what it takes to run that kind of business. Learn all you can about start-up costs, overhead, and expenses, and find out how much revenue you can expect to make.

If you have several interests and aren’t sure which would make the best business, consider your strongest skills and your educational background to help you determine which interest you are best suited to pursue. It is also extremely informative to research the marketplace and determine which types of business are presently needed in your area.

Study Up:

If you do not know much about the business you want to start, but are set on it, be prepared to spend enough time learning about it before you begin to avoid making critical mistakes in your business planning.

Keep in mind that giving yourself “enough time” could mean delaying your grand opening, or otherwise stalling your business’s launch date—that is just one of the costs of starting a business you don’t have experience with.

Always test your business idea:

Whether you have tons of experience with your chosen business or absolutely none, you should do everything you can to test whether you and your business are a good match. It is much easier and much cheaper to realize that you do not want to own a particular business while you’re still in the planning stages than it is when you’re already knee-deep in operating it, with vendor contracts and signed leases and loans.

Here is a step-by-step guide to evaluating whether you and your chosen business are a good fit,

  • Try it out. Before you start a business of your own, get some experience in the industry or profession that interests you—even if you work for free. Learn everything you can about every aspect of the business. For example, if you want to start a pasta shop, but do not know ravioli from cannelloni, go out and get a job with a pasta maker. After a few months, you should be an expert in every aspect of pasta prep, from mixing eggs and flour to flattening the dough and slicing it into strips.
  • Talk to entrepreneurs in the same field. If you are not familiar with the business you want to start and you are unable to find work in the field, talk with others who provide the product or service that interests you. To increase your chances of getting interviews and reliable answers to your questions, it is best to do this in a different locale from the one in which you plan to locate. Small business owners are often quite willing to share their knowledge once they are sure you will not compete with them.
  • Evaluate whether you enjoy the work and excel at it. If not, find a new venture. It’s a lot harder to make a success of a business you don’t like, and it’s unlikely you’ll like something you’re not good at. If you enjoyed the work and determined you were skilled enough to base your own business on it, go on to the next step.
  • Judge your ability and desire to handle every aspect of the business. If you don’t want to or can’t pitch in wherever and whenever something needs to be done—whether it involves manufacturing a product, dealing with customers or keeping the books—you should think twice about starting that kind of business.
  • Determine whether the business has a solid chance of turning a profit. After working in the field for a few months, you should have a good idea of whether the business is a potential money-maker. To be sure, you should analyze your market and conduct a break-even analysis, a preliminary financial projection that shows you the amount of revenue you’ll need to bring in to cover your expenses (this amount is called your break-even point). If you can bring in more revenues than your break-even point, you’ll be in the black (that is, you’ll make a profit).


  • erotik

    February 16, 2021 at 10:33 am

    I like the helpful information you provide in your articles. Kassandra Barron Koeppel


  • erotik

    February 16, 2021 at 11:51 am

    Thanks for another excellent article. Where else could anyone get that type of info in such a perfect way of writing? I have a presentation next week, and I am on the look for such info. Dania Bruce Gerlac


  • erotik

    March 1, 2021 at 6:51 pm

    It was very useful, I can say it was a useful article for me. Ronnie Garth Jankey


  • escort bayan

    March 1, 2021 at 8:01 pm

    Way cool! Some extremely valid points! I appreciate you writing this article and also the rest of the website is very good. Nerte Rickert Mandel


  • erotik

    March 2, 2021 at 1:58 am

    Hey there. I discovered your web site by way of Google at the same time as searching for a comparable topic, your web site got here up. It seems good. I have bookmarked it in my google bookmarks to come back then. Marylin Durante Jephthah


  • eureka boss smart vac ultra

    March 5, 2021 at 2:51 am

    I really like and appreciate your blog. Really thank you! Much obliged. Yvette Moles Patsy Cliff Krause


  • THC Gummies

    June 30, 2021 at 5:12 am

    wow, awesome post.Much thanks again. Much obliged.


  • Lashawn

    July 1, 2021 at 1:44 am

    When someone writes an post he/she retains the thought of a
    user in his/her brain that how a user can understand it.

    Therefore that’s why this piece of writing is perfect.



  • Dollie

    July 27, 2021 at 6:08 am

    Hello there! This article couldn’t be written any better!

    Going through this article reminds me of my previous roommate!
    He constantly kept preaching about this. I most certainly will send this information to him.
    Fairly certain he’ll have a very good read. Many thanks for


  • zovrelioptor

    August 17, 2021 at 8:56 pm

    Hey there, You’ve performed an excellent job. I will certainly digg it and in my view recommend to my friends. I am sure they will be benefited from this web site.


  • Ute

    August 24, 2021 at 2:49 am

    Hello would you mind letting me know which web host you’re utilizing?
    I’ve loaded your blog in 3 different browsers and I must say this blog loads a lot faster then most.
    Can you suggest a good hosting provider at a fair price? Kudos, I appreciate it!


  • Harvey

    August 31, 2021 at 1:05 am

    Thanks for sharing your thoughts on website. Regards


  • Wilhelmina

    August 31, 2021 at 1:52 pm

    Thanks for every other great article. The place else may just anybody get that kind of info
    in such an ideal approach of writing? I’ve a presentation next week, and I am
    at the search for such information.


  • Social Media Marketing

    September 19, 2021 at 8:21 pm

    Wow, fantastic blog layout! How long have you ever been blogging for? you make running a blog look easy. The overall look of your site is excellent, let alone the content material!!


  • Thad

    October 8, 2021 at 8:59 am

    If you desire to improve your familiarity just keep
    visiting this site and be updated with the newest news update
    posted here.


  • Owen

    October 18, 2021 at 4:36 pm

    It’s impressive that you are getting ideas from this piece of writing as well as from our dialogue made here.


  • Heath

    October 18, 2021 at 7:32 pm

    This is very attention-grabbing, You are a very professional blogger.
    I have joined your feed and look ahead to seeking extra of your magnificent post.
    Also, I have shared your website in my social networks


Leave a Reply

Your email address will not be published. Required fields are marked *

Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHBusiness Bridge Canada Social links
Taking seamless key performance indicators offline to maximise the long tail.
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHBusiness Bridge Canada Social links
Taking seamless key performance indicators offline to maximise the long tail.

©2020 LLC, A. All rights reserved.

Copyright ©2020 LLC, A. All rights reserved.